Wednesday January 12, 4:02 pm Eastern Time
Company Press Release
VerticalNet Retains Computer Sciences Corporation to Build the NECX Online Platform
World's Leading B2B Electronics Industry Marketplace Accelerates Transition to Hybrid e-Market Model
HORSHAM, Pa.--(BUSINESS WIRE)--Jan. 12, 2000-- VerticalNet Inc. (NASDAQ:VERT - news), the Internet's leading portfolio of business-to-business communities of commerce, announced today that Computer Sciences Corporation (NYSE:CSC - news), a leader in developing and integrating business-to-business electronic marketplaces, will design and integrate the next generation online platform for NECX, VerticalNet's market maker for the electronics industry. Recognized as the world's largest business-to-business electronics industry marketplace, NECX was acquired by VerticalNet© last December.
CSC will assist NECX in evolving NECX's off- and on-line trading and supply chain management capabilities to a comprehensive, hybrid solution. CSC will assist NECX in leveraging its back-office and logistics capabilities, its presence in Europe and Asia, and its deep expertise in serving the multi-hundred billion dollar electronics industry, by expanding its global transaction and fulfillment capabilities and creating value-added services available to its participants.
``CSC will help build the NECX online exchange, creating an infrastructure that will allow the exchange to operate a comprehensive open-market sourcing and trading solution for all participants in the electronics hardware industry,' said Larry Marshall, President of the Exchange. ``Partnering with CSC will enable us to quickly introduce an effective online solution for our customers. We will undoubtedly benefit from their experience with other B2B Market Makers.'
Mark Walsh, president and CEO of VerticalNet, said, ``We expect to gain a practical, efficient e-market infrastructure that we can selectively apply across our portfolio of business-to-business properties.'
``Having already constructed more than 25 scalable net markets, today's announcement further strengthens CSC's position as a leading provider in B2B Net Market design, technology, architecture and security,' said Chris Davis, Vice President in CSC's Consulting Group. ``Our relationship with VerticalNet is an important addition to the rich client portfolio we have in the B2B Net Market space. Upon completion of this project, CSC will enable engineers, purchasing professionals and product managers to access online the full range of NECX's capabilities.'
About CSC
Computer Sciences Corporation helps clients in industry and government use information technology to achieve strategic and operational objectives. With 54,000 employees in more than 700 offices worldwide, the company tailors solutions from a broad suite of integrated service offerings, including e-business strategies and technologies; management and I/T consulting; systems development and integration; application software; and I/T and business process outsourcing.
Since its formation in 1959, CSC has been known for its flexibility in its relationships with clients. Through numerous agreements with hardware and software technology firms, the company is able to identify and manage solutions specifically tailored to each client's needs. CSC had revenues of $8.2 billion for the twelve months ended October 1, 1999. Its headquarters are in El Segundo, California. For more information, visit the company's web site at (www.csc.com).
About NECX
NECX (www.necx.com) is the leading global B2B open market exchange for electronics hardware. NECX provides a high degree of market liquidity by aggregating supply and demand from thousands of component, original equipment and contract manufacturers; as well as distributors and resellers. The Exchange provides comprehensive services such as procurement and inventory management, trading, financial settlement, as well as global logistics and quality assurance.
About VerticalNet, Inc.
VerticalNet, Inc. (www.verticalnet.com), owns and operates 55 industry-specific Web sites designed as online business-to-business communities, known as vertical trade communities. These vertical trade communities provide users with comprehensive sources of information, interaction and e-commerce.
They are grouped into industry sectors: ADVANCED TECHNOLOGIES: Aerospace Online, Auto Central.com, Computer OEM Online, Embedded Technology.com, Plant Automation.com, Semiconductor Online, Test and Measurement.com; COMMUNICATIONS: Digital Broadcasting.com, EC Online, Fiber Optics Online, Photonics Online, Premises Networks.com, RF Globalnet, Wireless Design Online, Wireless Networks Online; ENVIRONMENTAL: ElectricNet, Pollution Online, Power Online, PublicWorks.com, Pulp and Paper Online, Solid Waste.com, Water Online; FOOD AND PACKAGING: Bakery Online, Beverage Online, Dairy Network.com, Food Ingredients Online, Food Online, Meat and Poultry Online, Packaging Network.com; FOODSERVICE AND HOSPITALITY: E-Hospitality.com, Foodservice Central.com; HEALTHCARE/SCIENCE: Bioresearch Online, Drug Discovery Online, E-Dental.com, Home Health Provider.com, Hospital Network.com, Laboratory Network.com, Long Term Care Provider.com, Medical Design Online, Nurses.com; MANUFACTURING AND METALS: Machine Tools Online, Metrology World.com, Safety Online, Surface Finishing.com, Tooling Online; PROCESS: Adhesives and Sealants.com, Chemical Online, Hydrocarbon Online, Oil and Gas Online, Paint and Coatings.com, Pharmaceutical Online; PUBLIC SECTOR: GovCon.com; SERVICE: HR Hub.com, Property and Casualty.com; TEXTILES AND APPAREL: TextileWeb; OTHER: Oil Link.com, LabX.com, Industry Deals.com, IT CareerHub.com, Professional Store.com.
This announcement contains forward-looking statements that involve risks and uncertainties, including those relating to (i)NECX's ability to operate a comprehensive open-market sourcing and trading solution; (ii)NECX's ability to introduce an effective online solution; (iii)VerticalNet's expectation that it will gain a practical, efficient e-market infrastructure that can be applied across its portfolio; and (iv)information contained elsewhere in this document where statements are preceded by, followed by or include the words ``believes,' ``plans,' ``intends,' ``expects,' ``anticipates' or similar expressions. For such statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from those included in the forward-looking statements include, among others, difficulties in developing and implementing the technology necessary to realize the perceived potential of an online solution. Additional factors that could cause actual results to differ from those contained in the forward-looking statements include those set forth in the Company's Annual Report on Form 10-K for the period ending December 31, 1998 and the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 1999, both of which have been filed with the SEC.
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